15 Facts About Revolut

Revolut is a British financial technology company that offers banking services.

Revolut has expanded into new markets such as Japan and expanded staff from 1500 to around 5000.

Revolut was founded on 1 July 2015 by Nikolay Storonsky from Russia and Vlad Yatsenko from Ukraine.

Revolut was originally based in Level39, a financial technology incubator in Canary Wharf, London.

In December 2018, Revolut secured a Challenger bank licence from the European Central Bank, facilitated by the Bank of Lithuania, authorising it to accept deposits and offer consumer credits, but not to provide investment services.

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In March 2019 Revolut united with Dax, the same year the company's chief financial officer Peter O'Higgins resigned.

In July 2019, Revolut launched commission-free stock trading on the New York Stock Exchange and NASDAQ, initially for customers in its Metal plan.

In February 2020, Revolut completed a funding round that more than tripled its value, valuing the company at £4.

In March 2021, Revolut applied for a bank charter in the US via applications with the FDIC and the California Department of Financial Protection.

In July 2021, Revolut raised US$800 million from investors, including SoftBank Group and Tiger Global Management, at a US$33 billion valuation.

In January 2022, Revolut launched as a bank in 10 additional European countries: Belgium, Denmark, Finland, Germany, Iceland, Lichtenstein, Luxembourg, Netherlands, Spain, and Sweden.

Since March 2022, Revolut has more than 18 million customers around the world and more than 150 million transactions a month.

In September 2022, Revolut confirmed a cyber attack exposed personal data of tens of thousands of users.

Revolut offers banking services including GBP and EUR bank accounts, debit cards, fee-free currency exchange, stock trading, cryptocurrency exchange and peer-to-peer payments.

Revolut explains that "the system is programmed to temporarily lock an account and place it in a queue, until one of our compliance agents can review the case".